Wednesday

March 4, 2015

March 4, 2015

Posted by **Terri** on Monday, September 21, 2009 at 10:33pm.

- math -
**MathMate**, Tuesday, September 22, 2009 at 12:11amFirst use the rule of 72 to get an approximation:

N=72/14= 5.1 %

The real calculation is:

(1+x)^{14}= 2

take log on both sides,

14log(1+x) = log(2)

log(1+x) = log(2)/14

1+x =e^{log(2)/14}

x = e^{log(2)/14}-1

=0.05076

The percentage required is 5.076%

(approx. equal to 5.1% estimated earlier)

**Answer this Question**

**Related Questions**

math - At what rate will $150 double itself in 14 years? Hoe do I solve this?

Math - Plz help me to solve In how many years will the money deposited in a bank...

Math - Are you trying to solve for x, n or p? solve for n Show me how to work ...

Math - Could someone please help me solve this problem, the age numbers that I ...

To Math Helpers please:Math 2 questions - I'll retype it, Ive been waiting ...

Math 2 questions - I need help with 2 questions so that I could do my other ones...

Math - Need help solving this problem. If there's an equation at the end, need ...

PreCalc - Find the amount of time required to double a dollar investment at 7.72...

10th - what rate willl an amount double itself in 20 years at simple interest?

Math - What rate would it take to double an object valued currently at $100 in 6...